Amylin Seeks FDA OK on Once-Weekly Diabetes Drug

NEW YORK (AP) — Biotechnology company Amylin Pharmaceuticals has applied for Food and Drug Administration approval of its once-weekly diabetes treatment. The drug candidate exenatide LAR, an extended version of the twice-daily injectable drug Byetta, is being viewed by Wall Street as a way for Amylin to reinvigorate sales. The drug's competition would likely include Novo Nordisk's once-daily treatment Liraglutide, which is currently under FDA review. Meanwhile, San Diego-based Amylin Pharmaceuticals Inc. is cutting about 200 jobs, or more than a third of its sales force, as it combines primary care and specialty drug sales units. The company's partners on Byetta and exenatide LAR include Indianapolis-based Eli Lilly & Co. and Cambridge, Mass.-based Alkermes Inc.